Zcash falls below $900 as Grayscale's ZCSH fund logs a third straight day of outflows

Zcash lost the $900 mark on Saturday. According to CoinGecko, one ZEC cost $892.80 at 1:48 p.m. Central European Time on November 14, a little more than 8 percent less than 24 hours earlier. Over seven days the loss is 30.5 percent, more than for any other coin among the 25 largest by market value. At the same time, the Grayscale Zcash ETF, ticker ZCSH, reports a third consecutive trading day of outflows, most recently $4.06 million, according to TokenPost.

For ZEC holders in Europe, three things are coming together: a price at its lowest level since early September, a US fund that has turned from buyer into seller, and a date on Monday when voting on the network's development fund begins. This article puts the numbers in context, explains the mechanism behind the fund outflows and shows which price levels, deadlines and rules now matter.

Zcash price at $893: the lowest level since early September

The range of the past 24 hours ran from $988.26 to $892.07, according to CoinGecko. At the time of measurement, the price was therefore practically at the daily low. With a market value of around $15.2 billion, Zcash ranks 11th among cryptocurrencies, and trading volume was around $680 million.

How deep the decline goes is shown by the daily values of the past twelve months. The last daily value below today's price was on September 3, 2026, at around $815. The 90-day high was around $1,653 on September 27; since then ZEC has lost about 46 percent. cryptoticker.io compiled this analysis itself on November 14, 2026, based on 365 daily closing prices from CoinGecko.

The daily series for this week shows the pace: $1,321.77 on November 7, $1,210.95 on November 9, $1,044.03 on November 11, $963.59 on November 12 and $955.66 on November 13. On no day of the week did ZEC close higher than the day before, with the exception of November 7.

Grayscale Zcash ETF (ZCSH): three days of outflows in a row

The Grayscale Zcash ETF is the first exchange-traded spot fund on Zcash in the US. A spot ETF holds the coins themselves rather than just futures contracts on them, so each fund share represents a small portion of real ZEC held in the fund's custody. According to TokenPost's fund overview of November 14, net outflows most recently came to $4.06 million, the third trading day of redemptions in a row. Cumulative net inflows since launch still stand at $177.79 million, with the day's trading volume at $15.55 million.

TokenPost puts the fund's net assets at $523.74 million. That equals 3.34 percent of Zcash's total market capitalization. A fund of this weight noticeably moves the market with its inflows and outflows.

24/7 Wall St., citing data from Farside Investors, describes the sequence before that: an outflow of $2.2 million on November 9, no outflow on November 10 and an outflow of $14.6 million on November 11. Together with the redemptions of November 12 and 13, this produces the series that TokenPost counts as the third consecutive day of outflows.

How an ETF outflow affects the ZEC price

When an investor redeems shares in a spot ETF, the fund has to release assets. For ZCSH this means that ZEC leave custody and are usually sold through trading partners. A redemption day thus creates supply in the spot market that would not exist without the fund. At the current price of around $893, $4.06 million works out to about 4,550 ZEC.

The fund only partly explains the slump, however. 24/7 Wall St. points this out in its analysis of November 12: Zcash posted the week's sharpest daily loss, about 10 percent, on November 10, a day without an outflow. The price decline therefore has several drivers, and the fund flows amplify a move that also originates in the spot and derivatives markets. TokenPost reported $810,000 in liquidated long positions in ZEC on Binance, Bybit and OKX combined for the hour to 5:02 a.m. Central European Time on Saturday morning, against only $10,000 on the short side.

Fear and Greed Index at 13: Zcash falls harder than the overall market

The decline hits a market that is already under pressure. The alternative.me Fear and Greed Index, a sentiment gauge built from price swings, volume and other data on a scale of 0 to 100, stands at 13 points on November 14, in the zone of extreme fear. The day before it was 20. Bitcoin traded at around $67,116, according to CoinGecko, 3.1 percent below the previous day, and ether lost 3.0 percent.

Zcash therefore fell about two and a half times as much as bitcoin. Over the week the gap is even clearer: minus 30.5 percent for ZEC. Anyone holding ZEC currently carries a risk that goes well beyond general market risk.

Zcash since November 12: the $1,000 mark has been lost

In our last piece on Zcash, our report of November 12 on the upcoming vote, the price stood at around $990 according to the figures given there. The daily close on November 12 was $963.59, according to CoinGecko. Since then ZEC has lost a further 7 percent or so, and the return above $1,000 that still seemed within reach at the time has not materialized.

Two things are new. First, the fund outflow has hardened from a single large day on November 11 into a series. Second, there has been no countermove since: the daily closes of November 12 and 13 were only slightly apart, and only on Saturday did the zone around $950 give way.

Zcash vote from November 16: the date for ZEC holders

On Monday, voting begins on the Zcash Community Grants development fund. According to our report of November 12, it runs from November 16 to November 30. One of the proposals would retire 50,000 ZEC from the fund, worth almost $45 million at today's price. The result is a poll rather than a binding decision, but it is seen as setting the course for the next network upgrade.

Only holders whose coins sit in a supported self-custody wallet can vote. ZEC in an exchange account do not count. Anyone who wants a say therefore has to withdraw their coins from the exchange before the week begins. For the price, the date is a possible trigger in either direction; no forecast of the outcome can be derived from the known figures.

ZEC price levels: $892 as the daily low, $1,000 as the hurdle

The first level on the downside is the daily low of $892.07, where the price stood at the time of measurement. Below that is the area around $815, the level of September 3. The next major support comes from the 200-day line, the average of daily closes over the past 200 days. By our own calculation from CoinGecko daily values, it is around $791; 24/7 Wall St. cited $785 on November 12. The $785 to $791 range is therefore the area analysts are watching if pressure continues.

On the upside, the daily high of $988.26 and the round $1,000 mark stand in the way. By the same calculation, the 50-day average is around $1,253, far above the current price.

Two readings stand against each other. 24/7 Wall St. puts the bearish case this way: a daily close below $950 could send Zcash toward the 200-day line at $785. That condition has been met since Saturday. The bullish case from the same source: a close above $1,000 could signal returning buyer confidence. ZEC is currently about 12 percent away from that.

EU anti-money laundering regulation from July 2027: what the ban on privacy coins means for Zcash

Regardless of the price, a deadline is running for Zcash that European investors should know about. The EU anti-money laundering regulation, Regulation (EU) 2024/1624, prohibits credit institutions, financial institutions and crypto-asset service providers in Article 79(1) from keeping accounts that allow transactions to be anonymized or highly obfuscated, "including through anonymity-enhancing coins". Under Article 90, the regulation applies from July 10, 2027.

Whether Zcash falls under it depends on interpretation. Zcash has transparent addresses, whose movements are publicly visible, and shielded addresses, where sender, recipient and amount remain hidden. The regulation itself names no coin. What is clear, by contrast, is an exception in recital 160: the ban does not apply to providers of hardware and software or of self-hosted wallets, as long as they have neither access to nor control over those wallets. Anyone holding ZEC in their own wallet is therefore not directly affected by the ban. The route of buying through an exchange may be.

Buying ZEC in the EU: MiCA exchanges, leverage and why there is no staking

The safe way to buy ZEC is through a provider authorized under the EU's Markets in Crypto-Assets regulation, MiCA. Which platforms hold this authorization and what they charge is shown in our overview of regulated crypto exchanges with MiCA authorization. Retail investors in the EU generally cannot buy the US fund ZCSH directly, because US ETFs usually lack the key information document required in the EU. Which fund products can be traded in Germany is explained in our guide to crypto ETFs and ETPs in Germany.

Anyone trading ZEC with leverage through perpetual futures should understand liquidation: if the price falls far enough that the posted collateral is used up, the platform closes the position by force. At ten times leverage, a drop of around 10 percent is enough in theory, barely more than the move of this single day. Staking is not an option with Zcash; the network runs on proof of work and pays no staking yield.

How gains on ZEC are taxed depends on where you live. Especially after a 30 percent drop in a week, it is worth checking your own purchase records before you sell; the crypto tax software comparison shows tools that keep them for you.

Zcash below $900: until November 16, the fund and custody are what count

1. Check how you buy: make sure your exchange has MiCA authorization and whether it intends to keep listing ZEC beyond 2027. The comparison of regulated crypto exchanges shows the authorized providers.
2. Settle custody: if you want to take part in the vote from November 16 or stay independent of exchange decisions, you need your own wallet. Devices with Zcash support are listed in the hardware wallet comparison.
3. Document your positions: note the purchase date and price of every ZEC position so that gains and losses can be documented cleanly. Crypto tax tools and portfolio trackers help with that.

(As of November 14, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)